Bob Buente South Park BID Emails through 10/2018

Re: Arroyo premiums

Subject: Re: Arroyo premiums

From: Ellen Riotto <ellen@southpark.la>

Date: 06/26/2017 10:16 AM

To: Marcus Lieber <Marcus.l_ieber@armaninoLLRcom>, Robert Buente
< bbuente@1010dev.org>

CC: Katie Kiefer <katie@southpark.la>

Thanks Marcus,

I'm looping Katie in who will share current policies/declaration.

Best,

Ellen

From: Marcus Lieber <Marcus.LiebergarmaninoLLP■com>

Date: Friday, June 23, 2017 at 3:27 PM

To: Robert Buente <bbuente@1010dev.orq> , Ellen Riotto <ellen@southpark.la>
Subject: RE: Arroyo premiums

Bob & Ellen,

I'm not certain if Arroyo pulled any shenanigans but I do feel that it would be prudent to
look into alternative coverages. I'm happy to speak with HUB International, who we do a
great deal of business with and see what they can offer. To do so, I would need copies of
the current policies/declaration pages.

Thanks,

Marcus Lieber
Supervising Senior
Business Management

ArmaninoLLP <http://http/armaninollp.com>

11766 Wilshire Blvd., Ninth Floor | Los Angeles, CA 90025
(310) 478-4148 x5794 main | (310) 703-1227 fax

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10/19/2018 09:07 AM

Re: Arroyo premiums

From: Robert Buente [ mailto : bbuente@lO10dev. orc i]

Sent: Friday, June 23, 2017 2:08 PM

To: Ellen Riotto <ellen(asouthpark.la> ; Marcus Lieber <Marcus.LiebergarmaninoLLP.com>
Subject: RE: Arroyo premiums

Ellen:

By Arroyo saying our previous "..assessment was significantly understated.." sounds to me
a little like they sandbagged the original coverage review and/or they cut the premiums so
they could rope us in. Now that we're in their portfolio premium pricing will jump.

If I'm right, and Marcus I'd appreciate your thoughts on this, then we will most
definitely put next year's insurance out to bid.

Bob

Robert Buente
President/CEO

1010 Development Corporation
1001 South Hope Street
First Floor

Los Angeles, CA 90015

bbuente@1010dev.org cmailto:bbuente@lO10dev.org>

213-749-0214 x202 (o)

213-749-3098 (f)

From: Ellen Riotto [ mailto: ellen(asouthpark. la ]

Sent: Friday, June 23, 2017 12:31 PM

To: Marcus Lieber < Marcus.Lieber@armaninoLLP.com cmailto:Marcus.LiebergarmaninoLLP.com> >;
Robert Buente < bbuente@101Odev.org cmailto:bbuente@lO10dev.org> >

Subject: Re: Arroyo premiums

Bob + Marcus,

2 of 5

10/19/2018 09:07 AM

Re: Arroyo premiums

Sorry for the major delay in replying to this - it got lost in the shuffle. Here's what's
going on: when we renewed the policy back in April, we had to project expenses and
coverage through April 30, 2018, which included our new budget, new staff person (the
30-hr/week "social worker") and new equipment, etc. This, combined with the fact that the
previous assessment for coverage was significantly understated, explains the jump.

All in all, I'm more comfortable with this approach. Interested to hear your thoughts,
though.

Thanks,

Ellen

From: Marcus Lieber < Marcus.Lieber@armaninoLLP.com <mailto:Marcus.Lieber@armaninoLLP.com>
>

Date: Friday, May 12, 2017 at 1:23 PM

To: Robert Buente < bbuente@1010dev.orq <mailto:bbuente@1010dev.orq> >, Ellen Riotto
< ellen@southpark.la <mailto:ellen@southpark.la> >

Subject: RE: Arroyo premiums

Combined they totaled about $30K.We don't have copies of the policies but it seems

excessive. The policies renewed on 5.01.17 but hopefully the premium would be prorated
and the difference refunded, if South Park was to cancel and bind new coverage elsewhere.
We may want to check on the cancelation policy with the broker, prior to releasing these
payments.

Let me know if I can offer any assistance.

Thanks,

Marcus Lieber
Supervising Senior
Business Management

ArmaninoLLP <http://http/a rmaninollp.com>

11766 Wilshire Blvd., Ninth Floor | Los Angeles, CA 90025
(310) 478-4148 x5794 main | (310) 703-1227 fax

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10/19/2018 09:07 AM

Re: Arroyo premiums

From: Robert Buente [ mailto : bbuentegiOlOdev .orci ]

Sent: Friday, May 12, 2017 11:52 AM

To: Ellen Riotto < ellen@southpark.la <mailto:ellen@southpark.la> >

Cc: Marcus Lieber < Marcus .Lieber@armaninoLLP.com <mailto:Marcus.Lieber@armaninoLLP.com> >
Subject: Arroyo premiums

Ellen:

How do these premiums compare to last year's?

Do we have time to "shop" their proposal to other brokers?

Thanks

Bob

Robert Buente
President/CEO

1010 Development Corporation
1001 South Hope Street
First Floor

Los Angeles, CA 90015

bbuente@1010dev.orq <mailto:bbuente@lO10dev.orq>

213-749-0214 x202 (o)

213-749-3098 (f)

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This communication, including attachments, is for the exclusive use of the person or
entity to which it is addressed and may contain confidential, proprietary and/or
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the intended recipient is prohibited. If you received this by mistake, please contact the
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4 of 5

10/19/2018 09:07 AM

Re: Arroyo premiums

CONFIDENTIALITY NOTICE:

This communication, including attachments, is for the exclusive use of the person or
entity to which it is addressed and may contain confidential, proprietary and/or
privileged information. Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or entities other than
the intended recipient is prohibited. If you received this by mistake, please contact the
sender immediately.

5 of 5

10/19/2018 09:07 AM